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Prior to the Bell, Stocks are Moving the Most

See which companies are trending in premarket trading on Tuesday.

Uber: After exceeding its projection of $29 billion to $30 billion in the third quarter, Uber’s gross bookings of $35.3 billion saw a 2% increase in shares of the ride-hailing company.

Planet Fitness: The fitness business increased its prognosis for the year and topped estimates on both fronts in the third quarter, which sent shares of the company soaring 8.8%. With expenses excluded, Planet Fitness reported earnings per share of 59 cents on revenue of $277.6 million. FactSet polled analysts who projected revenue of $268.2 million to generate 55 cents in earnings per share.

UBS: After the bank reported an underlying operating profit before tax of $844 million, which was significantly more than expected, shares of the Switzerland-based bank rose by more than 3%. UBS reported a higher-than-expected net loss attributable to shareholders for the third quarter of $785 million, taking into account $2 billion in costs associated with the integration of fallen rival Credit Suisse.

Tripadvisor – Following Tripadvisor’s release of quarterly results that above analyst estimates, the travel stock increased by more than 10%. Compared to the 47 cents per share on $505 million in revenue that analysts surveyed by LSEG had predicted, Tripadvisor revealed earnings of 52 cents per share on $533 million in revenue.

Coterra Energy: Tuesday’s premarket trading saw a 3% increase in shares, one day following the company’s earnings announcement. In addition to exceeding its full-year output guidance, Coterra exceeded the analysts’ earnings projections surveyed by FactSet.

Vivid Seats: The internet ticket market experienced an 8.6% increase. The surge follows the company’s third-quarter revenue prediction that beat analysts’ average estimates and its better-than-expected guidance for the full years 2023 and 2024. It was also confirmed by Vivid Seats that would be acquired by it for $240 million.

Bikeshare — After Deutsche Bank downgraded the stock from buy to hold, shares fell more than 5%. The company mentioned uncertainty in the growth prospects for the exercise-equipment marker. It also reduced Peloton’s price estimate from $13 to $4 per share, meaning that the stock would likely fall by 20% from Monday’s finish.

Sanmina: After the electronics producer provided a lacklustre outlook, shares fell 11.7%. The first quarter of the company’s fiscal year is expected to bring in between $1.85 billion and $1.95 billion. The StreetAccount estimate is $2.19 billion, which is far less.

Hers and His Health — In premarket trade, shares of Hims & Hers Health surged by 5%. The telehealth business announced a $50 million share repurchase programme on Monday, along with higher full-year targets and third-quarter revenue that exceeded forecasts.

Source (CNBC)

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